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Trendlyne Marketwatch
17 Sep 2025, 03:58PM
Market closes higher, Authum Investment acquires a 3% stake in Serovia Pharma for Rs 300 crore
By Trendlyne Analysis

 

Nifty 50 closed at 25,330.25 (91.2, 0.4%), BSE Sensex closed at 82,693.71 (313.0, 0.4%) while the broader Nifty 500 closed at 23,445.20 (75.9, 0.3%). Market breadth is in the green. Of the 2,574 stocks traded today, 1,352 were gainers and 1,173 were losers.

Indian indices closed higher after rising in the morning session. The Indian volatility index, Nifty VIX, fell 0.2% and closed at 10.3 points. Marico closed lower as the Income Tax Department reportedly conducted survey operations at its various business premises over alleged tax evasion charges.

Nifty Smallcap 100 closed in the green, tracking the benchmark index, while Nifty Midcap 100 closed flat. Nifty PSU Bank and Nifty India Defence were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Diversified Consumer Services emerged as the highest-performing sector of the day, with a rise of 7%.

European indices are trading mixed. Major Asian indices closed with varied trends. US index futures are trading flat, indicating a cautious start to the session as investors await the Federal Reserve’s rate cut decision, scheduled to release later today. Meanwhile, General Mills, Bullish, Compass Diversified, and Nano Dimension are set to report their earnings today.

  • Money flow index (MFI) indicates that stocks like Redington, Hindustan Copper, JK Tyre & Industries, and NLC are in the overbought zone.

  • Marico is falling as the Income Tax Department reportedly conducts survey operations at its various business premises over alleged tax evasion charges.

  • Power Grid Corp receives a letter of intent (LoI) to build an inter-state transmission system across Uttar Pradesh and Madhya Pradesh. The project includes a 765 kV sub-station at Prayagraj and 765 kV transmission lines spanning both states.

  • Ventura maintains its 'Buy' call on Ambuja Cements with a target price of Rs 794 per share. This indicates a potential upside of 37.1%. The brokerage believes that the company is well-positioned for growth, driven by its FutureX program, capacity expansion and cost optimisation. It expects the firm's revenue to grow at a CAGR of 17.5% over FY26-28.

  • The Global Trade Research Initiative (GTRI) highlights a decline in India’s exports to the US, citing high tariffs imposed during the Trump administration. These tariffs have eroded the price competitiveness of Indian goods. In August, shipments to the US dropped to $6.7 billion, a 16.3% fall from July, marking the steepest monthly decline of 2025 as US duties doubled to 50% by the end of the month.

  • Knowledge Marine & Engineering Works' board or directors approves the preferential issue of 14.2 lakh shares worth Rs 270 crore for Rs 1,900 per share.

  • Authum Investment & Infrastructure signs an agreement to acquire a 3% stake in Serovia Pharma for Rs 300 crore through compulsorily convertible preference shares (CCPS). Serovia develops, manufactures, and distributes pharmaceutical products for global markets.

  • Akzo Nobel rises as the Competition Commission of India (CCI) approves the acquisition of a 75% stake in the company worth Rs 8,986 crore by JSW Paints.

  • Cement stocks like UltraTech Cement, Shree Cement, and Ramco Cements are rising after CLSA issues a positive note on the sector. The brokerage anticipates improved profitability and margin expansion due to better pricing discipline, removal of the coal cess, and recent tax cuts.

  • Larsen & Toubro is rising as its power transmission & distribution business secures orders worth Rs 2,500-5,000 crore in India and overseas. The orders involve power distribution upgrades in India, substation systems in the United Arab Emirates, and a grid station with transmission lines in Oman.

  • Coal India rises as it emerges as the preferred bidder for the Ontillu-Chandragiri Rare Earth Element (REE) Exploration block with an area of 209.6 square km by the Ministry of Mines.

  • Vedanta rises as the National Company Law Appellate Tribunal (NCLAT) sets aside the National Company Law Tribunal's (NCLT's) order rejecting the demerger of Talwandi Sabo Power from the company.

  • Multi Commodity Exchange of India gains over 4% after SEBI Chairman Tuhin Kanta Pandey announces plans to allow banks and pension funds to participate in commodity trading. He also says the regulator is considering permitting foreign portfolio investors (FPIs) to trade in non-agricultural commodities, aiming to boost market participation.

  • Blue Dart Express' subsidiary, Blue Dart Aviation, receives a show-cause cum demand notice from the Commissioner of GST and Central Excise authorities in Chennai South. The notice alleges over Rs 420 crore in tax dues and input credit violations from April 2021 to March 2023.

  • Dev Accelerator’s shares make a flat debut on the bourses at Rs 61. The Rs 143.3 crore IPO received bids for 64 times the total shares on offer.

  • Shringar House of Mangalsutra's shares debut on the bourses at a 14.2% premium to the issue price of Rs 165. The Rs 400.9 crore IPO received bids for 60.3 times the total shares on offer.

  • Investec issues a cautionary note on registrar and share transfer agents (RTAs), stressing the need for diversification in the segment. The brokerage acknowledges the duopoly structure in India and notes that RTAs lack pricing power. It prefers KFin Technologies over CAMS, citing stronger earnings potential driven by international expansion and a more diversified revenue mix. Investec maintains a 'Buy' rating on KFin Technologies but lowers the target price to Rs 1,300.

  • Urban Company's shares debut on the bourses at a 57.5% premium to the issue price of Rs 103. The Rs 1,900 crore IPO received bids for 103.6 times the total shares on offer.

  • Mahindra Lifespace Developers surges as it secures two redevelopment projects in Chembur, Mumbai. The project is expected to generate a gross development value (GDV) of Rs 1,700 crore.

  • Amber Enterprises' board of directors approves a qualified institutional placement (QIP) of equity shares at a floor price of Rs 7,790.9 per share.

  • Nomura initiates coverage on Prestige Estates Projects with a 'Buy' rating and a target price of Rs 1,900. The brokerage believes the company’s pan-India growth strategy is stronger than its peers, with significant scale-up expected, especially in Mumbai and Delhi NCR. It estimates FY26 pre-sales at Rs 29,000 crore, surpassing the company’s guidance of Rs 26,000 crore.

  • Dreamfolks Services plunges to its 5% lower circuit as it shuts down its domestic airport lounge business, effective September 16.

  • Gujarat Fluorochemicals is falling as its promoter, Devansh Trademart, reportedly plans to sell its entire 4.8% stake (or 13 lakh shares) for Rs 455 crore through a block deal.

  • Lupin is falling as it receives Form 483 with six observations from the US FDA after an inspection at its Nagpur injectable facility.

  • Bharat Electronics is rising as it secures orders worth Rs 712 crore for IT infrastructure, cybersecurity solutions, ESM systems, blockchain platform, communication equipment, spares, and services.

  • Nifty 50 was trading at 25,297.05 (58.0, 0.2%), BSE Sensex was trading at 82,506.40 (125.7, 0.2%) while the broader Nifty 500 was trading at 23,427.95 (58.7, 0.3%).

  • Market breadth is ticking up strongly. Of the 2,097 stocks traded today, 1,479 were gainers and 556 were losers.

Riding High:

Largecap and midcap gainers today include Tata Consumer Products Ltd. (1,136.30, 4.1%), Punjab National Bank (111.97, 3.3%) and State Bank of India (857.15, 3.1%).

Downers:

Largecap and midcap losers today include ICICI Lombard General Insurance Company Ltd. (1,872.10, -2.1%), Aditya Birla Capital Ltd. (283.95, -2.1%) and Jindal Steel Ltd. (1,033.65, -1.9%).

Movers and Shakers

23 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included DCM Shriram Ltd. (1,379.70, 12.6%), PTC Industries Ltd. (15,465, 5.8%) and Elgi Equipments Ltd. (494.45, 5.8%).

Top high volume losers on BSE were Marico Ltd. (711.90, -1.7%), Balrampur Chini Mills Ltd. (515.85, -0.4%) and Five-Star Business Finance Ltd. (542.70, -0.3%).

KNR Constructions Ltd. (204.08, 4.8%) was trading at 108.2 times of weekly average. Gujarat Fluorochemicals Ltd. (3,690.60, -0.1%) and CIE Automotive India Ltd. (419.85, 3.2%) were trading with volumes 14.3 and 8.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

13 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Cummins India Ltd. (4,125.40, 0.4%), Indian Bank (703.75, 1.3%) and JSW Steel Ltd. (1,111, -0.4%).

22 stocks climbed above their 200 day SMA including Campus Activewear Ltd. (282.80, 2.9%) and Minda Corporation Ltd. (531.75, 2.7%). 6 stocks slipped below their 200 SMA including Whirlpool of India Ltd. (1,341.60, -1.5%) and Anant Raj Ltd. (586.95, -1.4%).

 
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